Former state school employee Iversen paid in $21K to teachers' pension fund, could collect $378K in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Kim Iversen, who retired in May 2017, saved $21,380 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Iversen would collect as much as $378,447, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Iversen received $7,954 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Iversen will have already received $24,586 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Lake Forest School District 67

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate